NEW YORK, Nov. 10, 2016 /PRNewswire/ -- Global protein labeling market is anticipated to reach USD 2,602.0 million by 2024, according to a new report by Grand View Research, Inc.Growing adoption of bioengineering technologies and rise in spending on R&D leading to a reduction in process complexity for protein labeling is expected to drive market growth. Anticipatedlaunch & commercialization of novel products and ongoing improvement in techniques used for proteomic research is expected to further reinforce growth in demand. Improvements in accuracy, resolution and procedures used in techniques such as fluorescence&biorthogonaltagging are estimated to grow over the forecast period. Ongoing development of genetic sequencing methodologies and consequent reduction in the cost of genome profiling is likely to drive demand for the next step of genetic analysis, i.e., protein expression analysis. Growth in a number of such protein profiling studies is expected to directly fuel demand for genomic and proteomic labeling techniques through to 2024. Further key findings from the report suggest: The reagents used for protein labeling accounted for the largest share of revenue in 2015. The larger share can be accounted for by the presence of high demand for labeling of peptides, antibodies and proteins at reaction locations of functional amino acids, and development of novel reagents that have chemo selective capabilities & amino acid cross linking abilities. Application of protein labeling in immunological techniques was observed to be responsible for generation of the largest share of revenue in 2015. Addition of nanoparticle-based tagging owing to ongoing R&D in emerged with the advent of nanoparticles and nanotechnology. Furthermore, aptamers-mediated nanoparticle-based peptide labeling method is gaining rapid acceptance for use in intracellular imaging and dynamic process tracking. Dye-based or fluorescence-based protein labeling have been observed to demonstrate high market adoption owing to associated usage in assays like ELISA, western blotting. Ongoing increase in the number of genetics-based R&D projects are also expected to boost market demand.